Be sure to discuss the appropriate fiscal and monetary policies which would address that disturbance . ( 20 points ) ( Points : 20 )
6 . ( TCO E ) Answer Parts A and B completely . ( 30 points )
( Part A ) ( 20 points ) Suppose nominal GDP in 2012 was $ 100 billion and in 2014 it was $ 220 billion . The general price index in 2012 was 100 , and in 2014 it was 140 . Between 2012 and 2014 , the real GDP rose by what percent ?
( Part B ) Use the following scenario to answer questions ( Part B1 ) and ( part B2 ).
In a given year in the United States , the total number of residents is 190 million , the number of residents under the age of 16 is 38 million , the number of institutionalized adults is 15 million , the number of adults who are not looking for work is 27 million , and the number of unemployed is 5 million .
( Part B1 ) ( 5 points ) Refer to the data in the above scenario . What is the size of the labor force in the United States for the given year ?